Wellington Electricity settles with regulator over price path breach

Thu, 05 Dec 2013

By Paul McBeth Dec. 5 (BusinessDesk) - Wellington Electricity Lines, the capital city’s electricity lines company owned by Hong Kong billionaire Li Ka-shing's Cheung Kong Infrastructure Holdings, has reached an out-of-court settlement with the Commerce Commission over a breach of its price path. The Wellington-based company will cut the amount it can earn in the 2014/15 year by $148,000 to compensate for exceeding its price path, which restricts the revenue an electricity distributer can earn in a given year, by almost $117,000 in the 12 mo...

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